Commonwealth Numbered Acts Commonwealth Numbered ActsIn this Act:
(a) a credit card account; and
(b) a loan account (other than a credit card account); and
(c) an account of money held in the form of units in:
(i) a cash management trust; or
(ii) a trust of a kind prescribed by the AML/CTF Rules.
To avoid doubt, it is immaterial whether:
(d) an account has a nil balance; or
(e) any transactions have been allowed in relation to an account.
"account provider" : if an account is with a person, the person is the account provider for the account.
"acquiring" : in determining whether something is a designated service, acquiring includes anything that, under the regulations, is taken to be acquiring for the purposes of this definition.
ADI (short for authorised deposit-taking institution) means:
(a) a body corporate that is an ADI for the purposes of the Banking Act 1959 ; or
(b) the Reserve Bank of Australia; or
(c) a person who carries on State banking within the meaning of paragraph 51(xiii) of the Constitution.
"AFP member" (short for Australian Federal Police member) means a member or special member of the Australian Federal Police.
(a) a Department of the Commonwealth is taken to be an agency of the Commonwealth for the purposes of this Act;
(b) a Department of a State is taken to be an agency of the State for the purposes of this Act;
(c) a Department of a Territory is taken to be an agency of the Territory for the purposes of this Act.
"allowing a transaction" : in determining whether a person has allowed a transaction, it is immaterial whether the person was obliged to allow the transaction.
"AML/CTF Rules" (short for Anti-Money Laundering/Counter-Terrorism Financing Rules) means the rules made under section 229.
"anti-money laundering and counter-terrorism financing program" has the meaning given by section 83.
"applicable customer identification procedure" : for the purposes of the application of this Act to customers of a reporting entity, applicable customer identification procedure has the meaning ascertained in accordance with:
(a) if all of the designated services provided by the reporting entity are covered by item 54 of table 1 in section 6:
(i) a special anti‑money laundering and counter‑terrorism financing program that applies to, and has been adopted by, the reporting entity; or
(ii) if the program has been varied on one or more occasions--the program as varied; or
(b) in any other case:
(i) Part B of an anti‑money laundering and counter‑terrorism financing program that applies to, and has been adopted by, the reporting entity; or
(ii) if the program has been varied on one or more occasions--Part B of the program as varied.
Note: Item 54 of table 1 in section 6 covers a holder of an Australian financial services licence who arranges for a person to receive a designated service.
"approved" means approved by the AUSTRAC CEO, in writing, for the purposes of the provision in which the term occurs.
Note: For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901 .
"approved deposit fund" has the same meaning as in the Superannuation Industry (Supervision) Act 1993.
"approved third-party bill payment system" means a bill payment system prescribed by the AML/CTF Rules.
(a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied, and whether or not enforceable, or intended to be enforceable, by legal proceedings; and
(b) any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise.
"ASIO" means the Australian Security Intelligence Organisation.
"ASIO Minister" means the Minister responsible for administering the Australian Security Intelligence Organisation Act 1979 .
(a) the Director‑General of Security; or
(b) a person employed under paragraph 84(1)(a) or (b) of the Australian Security Intelligence Organisation Act 1979 .
"AUSTRAC" means the Australian Transaction Reports and Analysis Centre continued in existence by section 209.
"AUSTRAC CEO" means the Chief Executive Officer of AUSTRAC.
(a) eligible collected information; or
(b) a compilation by the AUSTRAC CEO of eligible collected information; or
(c) an analysis by the AUSTRAC CEO of eligible collected information.
"Australia" , when used in a geographical sense, includes the external Territories.
"Australian account" means an account held in Australia.
"Australian Commission for Law Enforcement Integrity officer" means a staff member (as defined by section 11 of the Law Enforcement Integrity Commissioner Act 2006 ) of the Australian Commission for Law Enforcement Integrity.
"Australian financial services licence" has the same meaning as in Chapter 7 of the Corporations Act 2001 .
"Australian government body" means:
(a) the Commonwealth, a State or a Territory; or
(b) an agency or authority of:
(i) the Commonwealth; or
(ii) a State; or
(iii) a Territory.
(a) the AUSTRAC CEO; or
(b) a person for whom an appointment as an authorised officer is in force under section 145.
"batched electronic funds transfer instruction" means an electronic funds transfer instruction accepted by an ADI or a bank from a particular payer, where:
(a) the transfer instruction is one of a particular batch of electronic funds transfer instructions accepted by the ADI or bank from the payer; and
(b) the batch is, or is to be, passed on or dispatched in a single file that includes the complete payer information in respect of each of the electronic funds transfer instructions in the batch.
"bearer negotiable instrument" has the meaning given by section 17.
"beneficiary institution" , in relation to an electronic funds transfer instruction:
(a) in the case of a multiple‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(1); or
(b) in the case of a same‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(2); or
(c) in the case of a multiple‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(1); or
(d) in the case of a same‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(2).
bet includes wager.
"bill of exchange" has the same meaning as in paragraph 51(xvi) of the Constitution, but does not include a cheque unless the cheque is a cheque that an ADI, bank or other institution draws on itself.
"borrow" has a meaning corresponding to loan .
"building society" includes a society registered or incorporated as a co-operative housing society or similar society under:
(a) a law of a State or Territory; or
(b) a law of a foreign country or a part of a foreign country.
"bullion" includes anything that, under the regulations, is taken to be bullion for the purposes of this Act.
"business" includes a venture or concern in trade or commerce, whether or not conducted on a regular, repetitive or continuous basis.
"business day" means a day other than a Saturday, a Sunday or a public or bank holiday in the place concerned.
"civil penalty order" means an order under section 175.
"civil penalty provision" means a provision declared by this Act to be a civil penalty provision.
"commence to provide a designated service" means:
(a) if the designated service is provided at an instant of time--provide the service; or
(b) if the designated service is provided over a period of time--begin to provide the service.
"commercial goods carrier" means a person who, in the normal course of a business, carries goods or mail for reward.
"commercial passenger carrier" means a person who, in the normal course of a business, carries passengers for reward.
(a) a Commonwealth place within the meaning of the Commonwealth Places (Application of Laws) Act 1970 ; or
(b) a place in a Territory, where the place is owned by the Commonwealth.
"Commonwealth Royal Commission" means a Royal Commission within the meaning of the Royal Commissions Act 1902 .
"company" has the same meaning as in the Income Tax Assessment Act 1997 .
Note: Under the Income Tax Assessment Act 1997 , company includes an unincorporated association or body of persons.
"complete payer information" has the meaning given by section 71.
"compliance record" of a reporting entity means:
(a) a record that relates to the obligations under this Act, the regulations or the AML/CTF Rules of the reporting entity; or
(b) a record, copy or extract retained under Part 10 by the reporting entity.
"constitutional corporation" means a corporation to which paragraph 51(xx) of the Constitution applies.
"contribution" , in relation to an RSA, has the same meaning as in the Retirement Savings Accounts Act 1997 .
"controller" of an eligible gaming machine venue has the meaning given by section 13.
"control test" : passing the control test has the meaning given by section 11.
"correspondent banking relationship" means a relationship that involves the provision by a financial institution (the first financial institution ) of banking services to another financial institution, where:
(a) the first financial institution carries on an activity or business at or through a permanent establishment of the financial institution in a particular country; and
(b) the other financial institution carries on an activity or business at or through a permanent establishment of the other financial institution in another country; and
(c) the correspondent banking relationship relates, in whole or in part, to those permanent establishments; and
(d) the relationship is not of a kind specified in the AML/CTF Rules; and
(e) the banking services are not of a kind specified in the AML/CTF Rules.
For this purpose, banking service includes anything that, under the AML/CTF Rules, is taken to be a banking service for the purposes of this definition.
Note: For geographical links, see section 100.
"country" means Australia or a foreign country.
"credit card" has the same meaning as in section 63A of the Trade Practices Act 1974 .
"custodial or depository service" : see the definition of providing a custodial or depository service .
"customer" has the meaning given by section 6, and includes a prospective customer.
(a) the Chief Executive Officer of Customs; or
(b) an officer of customs within the meaning of the Customs Act 1901 .
"damage" , in relation to data, includes damage by erasure of data or addition of other data.
(a) information in any form; or
(b) any program (or part of a program).
"data storage device" means a thing containing, or designed to contain, data for use by a computer.
"debit card" has the same meaning as in section 63A of the Trade Practices Act 1974 .
"debit card account" : if a debit card enables the holder of an account to debit the account, the account is a debit card account .
"derivative" has the same meaning as in Chapter 7 of the Corporations Act 2001 .
(a) the Australian Crime Commission; or
(b) ASIO; or
(c) the Australian Commission for Law Enforcement Integrity; or
(d) the Australian Competition and Consumer Commission; or
(e) the Australian Customs Service; or
(f) the Australian Federal Police; or
(g) the Australian Prudential Regulation Authority; or
(h) the Australian Securities and Investments Commission; or
(i) the Child Support Agency; or
(j) the Commonwealth Services Delivery Agency (Centrelink); or
(k) a Commonwealth Royal Commission whose terms of reference include inquiry into whether unlawful conduct (however described) has, or might have, occurred; or
(l) the Immigration Department; or
(m) IGIS; or
(n) the Treasury Department; or
(o) an authority or agency of the Commonwealth, where the authority or agency is specified in the regulations; or
(p) the police force or police service of a State or the Northern Territory; or
(q) the New South Wales Crime Commission; or
(r) the Independent Commission Against Corruption of New South Wales; or
(s) the Police Integrity Commission of New South Wales; or
(t) the Crime and Misconduct Commission of Queensland; or
(u) the Corruption and Crime Commission of Western Australia; or
(v) an authority or agency of a State or Territory, where the authority or agency has the responsibility of collecting or receiving taxation revenue of the State or Territory; or
(w) a State/Territory Royal Commission:
(i) whose terms of reference include inquiry into whether unlawful conduct (however described) has, or might have, occurred; and
(ii) that is specified in the regulations; or
(x) an authority or agency of a State or Territory, where the authority or agency is specified in the regulations.
"designated business group" means a group of 2 or more persons, where:
(a) each member of the group has elected, in writing, to be a member of the group, and the election is in force; and
(b) each election was made in accordance with the AML/CTF Rules; and
(c) no member of the group is a member of another designated business group; and
(d) each member of the group satisfies such conditions (if any) as are specified in the AML/CTF Rules; and
(e) the group is not of a kind that, under the AML/CTF Rules, is ineligible to be a designated business group.
"designated remittance arrangement" has the meaning given by section 10.
"designated service" has the meaning given by section 6.
"director" of a company includes a member of a body corporate incorporated for a public purpose by a law of the Commonwealth, a State or a Territory.
"Director-General of Security" means the Director-General of Security holding office under the Australian Security Intelligence Organisation Act 1979 .
"disclose" means divulge or communicate.
"disposing of" : in determining whether something is a designated service, disposing of includes anything that, under the regulations, is taken to be disposing of for the purposes of this definition.
"e-currency" means an Internet-based, electronic means of exchange that is:
(a) known as any of the following:
(i) e‑currency;
(ii) e‑money;
(iii) digital currency;
(iv) a name specified in the AML/CTF Rules; and
(b) backed either directly or indirectly by:
(i) precious metal; or
(ii) bullion; or
(iii) a thing of a kind prescribed by the AML/CTF Rules; and
(c) not issued by or under the authority of a government body;
and includes anything that, under the regulations, is taken to be e‑currency for the purposes of this Act.
"electronic communication" has the same meaning as in the Criminal Code .
"electronic funds transfer instruction" means:
(a) a multiple‑institution person‑to‑person electronic funds transfer instruction; or
(b) a same‑institution person‑to‑person electronic funds transfer instruction; or
(c) a multiple‑institution same‑person electronic funds transfer instruction; or
(d) a same‑institution same‑person electronic funds transfer instruction.
"eligible collected information" means:
(a) information obtained by the AUSTRAC CEO under:
(i) this Act; or
(ii) any other law of the Commonwealth; or
(iii) a law of a State or Territory; or
(b) information obtained by the AUSTRAC CEO from a government body; or
(c) information obtained by an authorised officer under Part 13, 14 or 15;
and includes FTR information (within the meaning of the Financial Transaction Reports Act 1988 ).
"eligible gaming machine venue" has the meaning given by section 13.
(a) a place for the examination of goods on landing, where the place is appointed under section 17 of the Customs Act 1901 ; or
(b) a warehouse in respect of which a warehouse licence (within the meaning of Part V of the Customs Act 1901 ) is in force; or
(c) a port, airport, wharf or boarding station appointed under section 15 of the Customs Act 1901 .
"embarkation area" means a section 234AA place within the meaning of the Customs Act 1901 .
(a) do an act; or
(b) omit to perform an act.
"evidential burden" , in relation to a matter, means the burden of adducing or pointing to evidence that suggests a reasonable possibility that the matter exists or does not exist.
"examiner of the Australian Crime Commission" means an examiner within the meaning of the Australian Crime Commission Act 2002 .
"exempt financial market operator" issue of a security or derivative means the making available of the security or derivative, by the operator of a financial market (within the meaning of Chapter 7 of the Corporations Act 2001 ), in the course of operating the financial market.
"exempt legal practitioner service" means a service that, under the AML/CTF Rules, is taken to be an exempt legal practitioner service for the purposes of this Act.
"external auditor" means a person authorised under section 164 to be an external auditor for the purposes of this Act.
"factoring" includes anything that, under the regulations, is taken to be factoring for the purposes of this Act.
"false customer name" means a name other than a name by which the customer is commonly known.
"FATF Recommendations" (short for Financial Action Task Force Recommendations) means:
(a) all of the following Recommendations:
(i) the Forty Recommendations adopted by the Financial Action Task Force on Money Laundering (FATF) at its plenary meeting on 20 June 2003;
(ii) the Special Recommendations on Terrorist Financing adopted by the Financial Action Task Force on Money Laundering (FATF) at its special plenary meeting on 31 October 2001;
(iii) Special Recommendation IX on Terrorist Financing adopted by the Financial Action Task Force on Money Laundering (FATF) at its plenary meeting on 20‑22 October 2004; or
(b) if any or all of those Recommendations are amended--the Recommendations as so amended.
Note: In 2006, the text of the FATF Recommendations was available on the FATF Internet site (www.fatf‑gafi.org).
"Federal Court" means the Federal Court of Australia.
"financial institution" means:
(a) an ADI; or
(b) a bank; or
(c) a building society; or
(d) a credit union; or
(e) a person specified in the AML/CTF Rules.
"financing of terrorism" means conduct that amounts to:
(a) an offence against section 102.6 or Division 103 of the Criminal Code ; or
(b) an offence against section 20 or 21 of the Charter of the United Nations Act 1945 ; or
(c) an offence against a law of a State or Territory that corresponds to an offence referred to in paragraph (a) or (b); or
(d) an offence against a law of a foreign country or a part of a foreign country that corresponds to an offence referred to in paragraph (a) or (b).
"foreign country" includes a region where:
(a) the region is a colony, territory or protectorate of a foreign country; or
(b) the region is part of a foreign country; or
(c) the region is under the protection of a foreign country; or
(d) a foreign country exercises jurisdiction or control over the region; or
(e) a foreign country is responsible for the region's international relations.
"foreign exchange contract" means a contract:
(a) to buy or sell currency (whether Australian or not); or
(b) to exchange one currency (whether Australian or not) for another (whether Australian or not).
"foreign intelligence agency" means a government body that has responsibility for:
(a) intelligence gathering for a foreign country; or
(b) the security of a foreign country.
"foreign law enforcement agency" means a government body that has responsibility for law enforcement in a foreign country or a part of a foreign country.
"funds transfer chain" has the meaning given by subsection 64(2).
"game" includes an electronic game, but does not include a lottery.
"gaming chip or token" means a chip or token for playing a game, where:
(a) the game is played for money or anything else of value; and
(b) the game is a game of chance or of mixed chance and skill.
"gaming machine" means a machine for playing a game, where:
(a) the game is played for money or anything else of value; and
(b) the game is a game of chance or of mixed chance and skill.
(a) the government of a country; or
(b) an agency or authority of the government of a country; or
(c) the government of part of a country; or
(d) an agency or authority of the government of part of a country.
"guarantee" includes anything that, under the regulations, is taken to be a guarantee for the purposes of this Act.
"IGIS" (short for Inspector-General of Intelligence and Security) means the agency consisting of:
(a) the Inspector‑General of Intelligence and Security; and
(b) the APS employees assisting the Inspector‑General of Intelligence and Security.
IGIS official (short for Inspector-General of Intelligence and Security official) means:
(a) the Inspector‑General of Intelligence and Security; or
(b) an APS employee assisting the Inspector‑General of Intelligence and Security.
"Immigration Department" means the Department responsible for the administration of the Migration Act 1958 .
"incorporated" includes formed. This definition does not apply to the expression unincorporated .
"information obtained" includes information obtained as a result of the production of a document.
"infringement notice" means an infringement notice under section 184.
"Inter-Governmental Committee" means the Inter-Governmental Committee mentioned in section 8 of the Australian Crime Commission Act 2002 .
"international funds transfer instruction" has the meaning given by section 46.
"investigating officer" means:
(a) a taxation officer; or
(b) an AFP member; or
(c) a customs officer (other than the Chief Executive Officer of Customs); or
(d) an examiner of the Australian Crime Commission; or
(e) a member of the staff of the Australian Crime Commission.
"involves" includes relates to.
"issue" , when used in relation to a security or derivative, includes grant or otherwise make available. The time when a derivative is issued is to be worked out under subsection 761E(3) of the Corporations Act 2001 .
"joint anti-money laundering and counter-terrorism financing program" has the meaning given by subsection 85(1).
"lease" , when used in relation to goods, includes hire.
Life Insurance Actuarial Standard 4.02 means Actuarial Standard 4.02 made under section 101 of the Life Insurance Act 1995 .
"life policy" means a life policy (within the meaning of the Life Insurance Act 1995 ), but does not include:
(a) a policy for which there is no prescribed minimum surrender value (other than that which may be provided for in the policy documentation and promotional material); or
(b) a regular premium policy to which paragraph (a) does not apply, where the amount, or the total of the amounts, payable by way of premium each year is not more than:
(i) $1,500; or
(ii) if a greater amount is specified in the AML/CTF Rules--that greater amount; or
(c) a single premium policy to which paragraph (a) does not apply, where the amount of the single premium is not more than:
(i) $3,000; or
(ii) if a greater amount is specified in the AML/CTF Rules--that greater amount; or
(d) a contract of consumer credit insurance (within the meaning of the Insurance Contracts Act 1984 ).
For the purposes of this definition, the question of whether a policy has a prescribed minimum surrender value is to be determined in accordance with Life Insurance Actuarial Standard 4.02 as in force from time to time.
(a) an advance of money; and
(b) the provision of credit or any other form of financial accommodation; and
(c) the payment of an amount for, on account of, on behalf of or at the request of a person where there is an obligation (whether expressed or implied) to repay the amount; and
(d) a transaction (whatever its terms or form) which in substance effects a loan of money;
but does not include:
(e) if goods (within the meaning of the Trade Practices Act 1974 ) are sold on credit--the provision by the seller of that credit; or
(f) if services (within the meaning of the Trade Practices Act 1974 ) are provided on credit--the provision by the provider of the service of that credit; or
(g) anything that, under the AML/CTF Rules, is taken not to be a loan for the purposes of this Act.
"make available" , when used in relation to money, includes reducing the balance of a loan account.
"member of the staff of the Australian Crime Commission" has the same meaning as in the Australian Crime Commission Act 2002 .
"modifications" includes additions, omissions and substitutions.
(a) physical currency; and
(b) money held in an account, whether denominated in Australian currency or any other currency; and
(c) money held on deposit, whether denominated in Australian currency or any other currency; and
(d) e‑currency, however amounts of the e‑currency are expressed.
"money laundering" means conduct that amounts to:
(a) an offence against Division 400 of the Criminal Code ; or
(b) an offence against a law of a State or Territory that corresponds to an offence referred to in paragraph (a); or
(c) an offence against a law of a foreign country or of a part of a foreign country that corresponds to an offence referred to in paragraph (a).
"money laundering and terrorism financing risk assessment" has the meaning given by subsection 165(6).
"monitoring powers" has the meaning given by section 148.
"monitoring warrant" means a warrant issued under section 159.
"move physical currency into Australia" has the meaning given by section 58.
"move physical currency out of Australia" has the meaning given by section 57.
"multiple-institution person-to-person electronic funds transfer instruction" has the meaning given by subsection 8(1).
"multiple-institution same-person electronic funds transfer instruction" has the meaning given by subsection 9(1).
"non-designated Commonwealth agency" means an authority or agency of the Commonwealth that is not a designated agency.
"non-reportable cross-border movement of physical currency" means:
(a) a movement of physical currency out of Australia; or
(b) a movement of physical currency into Australia;
for which a report under section 53 is not required.
"non-reportable transaction" : if:
(a) a reporting entity commences to provide, or provides, a designated service to a customer; and
(b) the provision of the service involves a transaction; and
(c) the transaction is not a threshold transaction;
the transaction is a non‑reportable transaction .
(a) a reference in this Act to an offence against a law of the Commonwealth (including this Act) includes a reference to an offence against section 6 of the Crimes Act 1914 that relates to such an offence; and
(b) a reference in this Act to a particular offence includes a reference to an offence against section 6 of the Crimes Act 1914 that relates to that particular offence.
Note: For other ancillary offences, see section 11.6 of the Criminal Code .
(a) a director or secretary of a company is taken to be an officer of the company for the purposes of this Act;
(b) a partner of a partnership is taken to be an officer of the partnership for the purposes of this Act;
(c) a trustee or manager of a trust is taken to be an officer of the trust for the purposes of this Act.
"official" of a designated agency or a non-designated Commonwealth agency has the meaning given by section 22.
"opening" , in relation to an account, means creating the account. To avoid doubt, it is immaterial whether:
(a) the account number has been given to the holder of the account; or
(b) the holder of the account, or any other signatory to the account, can conduct a transaction in relation to the account.
"ordering institution" , in relation to an electronic funds transfer instruction:
(a) in the case of a multiple‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(1); or
(b) in the case of a same‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(2); or
(c) in the case of a multiple‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(1); or
(d) in the case of a same‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(2).
"owner-managed branch" of an ADI has the meaning given by section 12.
"partnership" has the same meaning as in the Income Tax Assessment Act 1997 .
"payee" , in relation to an electronic funds transfer instruction:
(a) in the case of a multiple‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(1); or
(b) in the case of a same‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(2); or
(c) in the case of a multiple‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(1); or
(d) in the case of a same‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(2).
"payer" , in relation to an electronic funds transfer instruction:
(a) in the case of a multiple‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(1); or
(b) in the case of a same‑institution person‑to‑person electronic funds transfer instruction--has the meaning given by subsection 8(2); or
(c) in the case of a multiple‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(1); or
(d) in the case of a same‑institution same‑person electronic funds transfer instruction--has the meaning given by subsection 9(2).
"penalty unit" has the meaning given by section 4AA of the Crimes Act 1914 .
"permanent establishment" has the meaning given by section 21.
"person" means any of the following:
(a) an individual;
(b) a company;
(c) a trust;
(d) a partnership;
(e) a corporation sole;
(f) a body politic.
Note: See also sections 237 (partnerships), 238 (unincorporated associations) and 239 (trusts with multiple trustees).
"physical currency" means the coin and printed money (whether of Australia or of a foreign country) that:
(a) is designated as legal tender; and
(b) circulates as, and is customarily used and accepted as, a medium of exchange in the country of issue.
(a) an AFP member; or
(b) a member of the police force or police service of a State or Territory.
(a) gold; or
(b) silver; or
(c) platinum; or
(d) palladium; or
(e) iridium; or
(f) osmium; or
(g) rhodium; or
(h) a metal specified in the regulations; or
(i) any alloy or other substance containing:
(i) gold; or
(ii) silver; or
(iii) platinum; or
(iv) palladium; or
(v) iridium; or
(vi) osmium; or
(vii) rhodium; or
(viii) a metal specified in the regulations.
"prescribed foreign country" means a foreign country declared by the regulations to be a prescribed foreign country for the purposes of this Act.
"printed money" means money comprising a note printed, written or otherwise made on polymer, paper or any other material.
"produce" includes permit access to.
"promissory note" has the same meaning as in paragraph 51(xvi) of the Constitution.
"property" means any legal or equitable estate or interest in real or personal property, including a contingent or prospective one, but does not include money.
"provide" includes supply, grant or confer.
"providing a custodial or depository service" includes engaging in conduct that, under subsection 766E(1) of the Corporations Act 2001 , constitutes providing a custodial or depository service within the meaning of Chapter 7 of that Act, but does not include:
(a) conduct covered by subsection 766E(3) of that Act; or
(b) conduct specified in the AML/CTF Rules.
public official means:
(a) an employee or official of a government body; or
(b) an individual who holds or performs the duties of an appointment, office or position under a law of a country or of part of a country; or
(c) an individual who holds or performs the duties of an appointment, office or position created by custom or convention of a country or of part of a country; or
(d) an individual who is otherwise in the service of a government body (including service as a member of a military force, police force or police service); or
(e) a member of the executive, judiciary or magistracy of a country or of part of a country.
"qualified accountant" means a person who is a member of:
(a) CPA Australia; or
(b) the Institute of Chartered Accountants in Australia; or
(c) a body specified in the AML/CTF Rules.
"receives" a designated service : if a reporting entity provides a designated service to a customer, the customer receives the designated service from the reporting entity.
"Register of Providers of Designated Remittance Services" means the register maintained under subsection 75(1).
"registrable designated remittance service" means a designated service that:
(a) is covered by item 31 or 32 of table 1 in section 6; and
(b) is provided by a person at or through a permanent establishment of the person in Australia; and
(c) is not of a kind specified in the AML/CTF Rules.
"registrable details" , in relation to a person, means such information relating to the person as is specified in the AML/CTF Rules.
Note: A person's business name and business address are examples of information that could be specified in the AML/CTF Rules.
"remittance arrangement" has the meaning given by section 10.
"reporting entity" means a person who provides a designated service.
"reporting entity business premises" means:
(a) premises, or a part of premises, used wholly or partly for the purposes of the business operations of:
(i) a reporting entity; or
(ii) an agent of a reporting entity; or
(b) premises, or a part of premises, used wholly or partly for the purposes of the storage (whether in electronic form or otherwise) of records relating to the business operations of:
(i) a reporting entity; or
(ii) an agent of a reporting entity;
where the occupier of the premises, or the part of premises, carries on a business of storing records at the premises or the part of premises.
"required transfer information" has the meaning given by section 70.
"resident" of a country has the meaning given by section 14.
"RSA" (short for retirement savings account) has the same meaning as in the Retirement Savings Accounts Act 1997 .
"RSA provider" (short for retirement savings account provider) has the same meaning as in the Retirement Savings Accounts Act 1997 .
"same-institution person-to-person electronic funds transfer instruction" has the meaning given by subsection 8(2).
"same-institution same-person electronic funds transfer instruction" has the meaning given by subsection 9(2).
"Secretary" means the Secretary of the Department.
"security" has the meaning given by section 92 of the Corporations Act 2001 (for this purpose, disregard subsections 92(3) and (4) of that Act).
Note: Security includes an interest in a managed investment scheme.
"self managed superannuation fund" has the same meaning as in the Superannuation Industry (Supervision) Act 1993 .
"send" , in relation to physical currency, includes send through the post.
"service" includes anything covered by an item of a table in section 6.
"shell bank" has the meaning given by section 15.
"signatory" , in relation to an account with an account provider, means the person, or one of the persons, on whose instructions (whether required to be in writing or not and whether required to be signed or not) the account provider conducts transactions in relation to the account.
"sinking fund policy" has the same meaning as in the Life Insurance Act 1995 .
"special anti-money laundering and counter-terrorism financing" program has the meaning given by subsection 86(1).
"standard anti-money laundering and counter-terrorism financing program" has the meaning given by subsection 84(1).
"state of mind" of a person includes:
(a) the knowledge, intention, opinion, suspicion, belief or purpose of the person; and
(b) the person's reasons for the intention, opinion, belief or purpose.
"State/Territory Royal Commission" means:
(a) a Royal Commission of a State or Territory; or
(b) a commission of inquiry of a State or Territory.
"stored value card" includes a portable device that is:
(a) capable of storing monetary value in a form other than physical currency; and
(b) of a kind specified in the regulations.
"subject to a requirement" includes subject to a prohibition.
"subsidiary" has the same meaning as in the Corporations Act 2001 .
"superannuation fund" has the same meaning as in the Superannuation Industry (Supervision) Act 1993 .
"suspicious matter reporting obligation" has the meaning given by subsection 41(1).
"taxation law" has the same meaning as in the Taxation Administration Act 1953 .
(a) a Second Commissioner of Taxation; or
(b) a Deputy Commissioner of Taxation; or
(c) a person appointed or engaged under the Public Service Act 1999 and performing duties in the Australian Taxation Office.
"threshold transaction" means:
(a) a transaction involving the transfer of physical currency, where the total amount of physical currency transferred is not less than $10,000; or
(b) a transaction involving the transfer of money in the form of e‑currency, where the total amount of e‑currency transferred is not less than $10,000; or
(c) if:
(i) the regulations provide that this definition applies to a specified transaction involving money; and
(ii) the regulations provide that a specified amount is the transaction threshold for the specified transaction;
the specified transaction, where the total amount transferred is not less than the transaction threshold for the transaction; or
(d) if:
(i) the regulations provide that this definition applies to a specified transaction involving the transfer of property; and
(ii) the regulations provide that a specified amount is the transaction threshold for the specified transaction;
the specified transaction, where the total value transferred is not less than the transaction threshold for the transaction.
Paragraphs (a) and (b) do not limit paragraph (c).
Note 1: See also section 18 (translation of foreign currency to Australian currency).
Note 2: See also section 19 (translation of e‑currency to Australian currency).
Note 3: For specification by class, see subsection 13(3) of the Legislative Instruments Act 2003 .
"tracing information" has the meaning given by section 72.
"transaction" includes a transaction of a non-commercial nature.
"transfer" includes any act or thing, or any series or combination of acts or things, that may reasonably be regarded as the economic equivalent of a transfer (for example, debiting an amount from a person's account and crediting an equivalent amount to another person's account).
"transferor entity" , in relation to a remittance arrangement, has the meaning given by paragraph 10(3)(a).
"Treasury Department" means the Department administered by the Treasurer.
"trust" means a person in the capacity of trustee or, as the case requires, a trust estate.
"trustee" has the same meaning as in the Income Tax Assessment Act 1997 .
"trust estate" has the same meaning as in the Income Tax Assessment Act 1997 .
"ultimate transferee entity" , in relation to a remittance arrangement, has the meaning given by paragraph 10(3)(b).
"unincorporated association" means an unincorporated association or body of persons.
"unique reference number" , for an electronic funds transfer instruction, means a combination of any or all of the following:
(a) letters;
(b) digits;
(c) characters;
(d) symbols;
which distinguishes the transfer instruction in a way that, either:
(e) alone; or
(f) in conjunction with any other information in the transfer instruction;
enables the ordering institution to identify the payer.
Examples:
(a) a combination of a BSB and account number;
(b) a reference number generated by the ordering institution.
"value" , in relation to transferred property, means the market value of the property as at the time of the transfer. In working out the market value of the property, disregard anything that would prevent or restrict conversion of the property to money.
"warrant premises" , in relation to a monitoring warrant, means the premises to which the warrant relates.